Stocks fall in early trade as Santa rally stumbles; Bitcoin is falling

GameStop Rises After Roaring Kitty Christmas Post

1 hour 12 minutes ago

Has Roaring Kitty given meme stock traders a Christmas present? Although it’s not clear at this point, GameStop ( GME ) fans are doing a little shopping themselves this morning.

Shares in the retailer associated with Keith “Roaring Kitty” Gill, who for many is the first person who comes to mind when the company comes up, rose in early trading Thursday.

The gain, modest but noticeable at about 4%, follows a Wednesday tweet from his X account that was characteristically vague — he often tweets clips from movies and other media without explaining their meaning, leaving much to the viewer — but also seasonal: a picture of a wrapped gift box.

Does that mean he has something good? Do you have something to give? Do you like nicely wrapped boxes? Predictably, people are wondering – and watching with the message at last count viewed around 4 million times, according to X, with thousands of replies, retweets and likes.

The company’s shares, meanwhile, are up nearly 80% in 2024, though below prices seen at the top of spikes largely inspired by Gill earlier this year. GameStop reported its latest quarterly results earlier this month, reversing a decline in sales and swinging to a net profit.

–David Marino-Nachison

Major indices riding multi-day winning streaks

2 hours and 18 minutes ago

Heading into the start of Thursday’s session, the Dow Jones Industrial Average has ended higher for four consecutive moves, while the S&P 500 and Nasdaq Composite have advanced for three consecutive days.

With its gains so far this week, the S&P 500 has moved into positive territory for the month. The Nasdaq is also higher for the month, while the Dow is on track to end December with a loss.

For the year, the Nasdaq has risen by 33.4%, while the S&P 500 and the Dow have risen by 26.6% and 14.9% respectively.

Futures point to lower open for major indexes

3 hours 32 minutes ago

Futures linked to the Dow Jones Industrial Average fell 0.3 per cent.

S&P 500 futures also fell 0.3 percent.

Nasdaq 100 futures fell 0.4 percent.